Investors will have a batch of indicators on the depressed US housing market to sift through next week, from home sales to durable goods orders, that could signal the economy's direction in the coming months. Stocks closed mixed Friday, unable to sustain the gains of the prior day that had snapped a three-day losing streak.
Over the week, the Dow Jones Industrial Average shed 317.87 points (2.61 percent) to 11,866.39. The tech-rich Nasdaq Composite lost 91.52 points (3.46 percent) to 2,555.33, and the S&P 500, a broader measure of the markets, dropped 35.53 points (2.83) percent to 1,219.66.
Stocks suffered losses in the first three days of the week as the euphoria of a European Union deal to resolve the eurozone debt crisis last Friday faded, leaving more questions than answers about how leaders can unwind the deepening problems. read stock market forecast week december 19 -23 2011
Europe continues to dominate investor attention, with stocks moving higher on hopes that at least some progress toward a sustainable solution is being made, only to fall again on fading hopes,worries continued to center around Europe as ratings agencies warned of the potential of further downgrades in the region after last week's summit failed to supply markets with the 'bazooka' they had been looking for. For the latest updates PRESS CTR + D or visit Stock Market news Today
No comments:
Post a Comment